Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)
Texas Pacific Land Trust (NYSE:TPL):
TEXAS PACIFIC LAND TRUST REPORT OF OPERATIONS - UNAUDITED Three Months Ended June 30, 2009 June 30, 2008 Rentals, royalties and other income $ 3,736,877 $ 5,243,698 Land sales 523,010 192,000 Total income $ 4,259,887 $ 5,435,698 Provision for income tax $ 1,079,902 $ 1,530,888 Net income $ 2,428,849 $ 3,217,622 Net income per sub-share $ .24 $ .31 Average sub-shares outstanding during period 10,092,773 10,432,250 Six Months Ended June 30, 2009 June 30, 2008 Rentals, royalties and other income $ 5,602,954 $ 9,832,185 Land sales 523,010 639,040 Total income $ 6,125,964 $ 10,471,225 Provision for income tax $ 1,531,280 $ 2,779,091 Net income $ 3,191,001 $ 6,148,379 Net income per sub-share $ .32 $ .59 Average sub-shares outstanding during period 10,120,410 10,447,546
This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the Trust's future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, production limits on prorated oil and gas wells authorized by the Railroad Commission of Texas, expected competition, management's intent, beliefs or current expectations with respect to the Trust's future financial performance and other matters. We assume no responsibility to update any such forward-looking statements.
Source: Texas Pacific Land Trust
Released July 30, 2009